According to MarkNtel Advisors, the Ethiopia Two-Wheeler Tire Market is projected to grow at a considerable CAGR during 2022-27. Most of the market expansion would be driven by the active participation of the government in improving the country's economic conditions through favorable policies for attracting foreign investments into different industries, including the automotive & tire sector. It, in turn, is generating growth opportunities for the leading players to establish manufacturing facilities for tires to meet the rising consumer requirements.
Besides, heavy traffic congestion owing to the poor road infrastructure in Ethiopia is leading to the increasing public inclination toward two-wheelers, which, as a result, is augmenting the demand for two-wheeler tires in the country and fueling the overall market growth.
Furthermore, the country is highly dependent on imports, and thus Chinese tires are gaining traction among two-wheeler owners owing to their easy availability & affordability. Hence, this escalating demand for tires projects remunerative opportunities for the market growth through 2027, further states the research report, “Ethiopia Two-Wheeler Tire Market Analysis, 2022.”
Mounting Sales of Motorbikes to Spur the Market Growth through 2027
The poor road infrastructure of the country, i.e., leading to massive traffic congestion, has shown a greater inclination of people toward buying Motorbikes, which acquired the largest share in the Ethiopia Tire Market in the previous few years.
Additionally, due to the growing awareness about the utilitarian nature of motorbikes, their sales are escalating rapidly and positively impacting the demand for tires. As a result, their dominance in the market is anticipated to prevail even during the forecast period, cites MarkNtel Advisors in their research report, "Ethiopia Two-Wheeler Tire Market Analysis, 2022."
The leading players in the Ethiopia Two-Wheeler Tire Market include MRF, Bridgestone, Maxxis, CEAT, Sumitomo, Apollo, Michelin, Continental, Pirelli, and Goodyear.
Key Questions Answered in the Research Report: